PSX Technicals Jul 15, 2024

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Abdur Rahman | July 15, 2024 at 05:30 AM GMT+05:00

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July 15, 2024 (MLN): The benchmark KSE-100 Index closed at 79,944, with the Relative Strength Index (RSI) at 66.89.

Pivot Points — a technical indicator used to determine areas of support and resistance through mathematical formulas — indicate a possible cushion for KSE-100 around 78,930.

Meanwhile, it suggests an initial resistance level at 80,640, with further barriers at 81,336 and 82,350.

KSE-100 Index closed 2.95% below the upper limit of its 20-day Bollinger band and 6.43% above the lower limit.

The gap between the upper and lower Bollinger of KSE-100 Index has narrowed by 30.5% compared to last week.

The Bollinger study is a way of analyzing volatility, calculated by plotting standard deviations, above and below a security over time. The bands widen when a security's price becomes more volatile and narrow when it is more stable.

Momentum-wise, only 13 of the 100-Index companies' RSI — a 0-100 gauge meter — has climbed above the level of 70 typically seen as overbought.

Furthermore, overall technical ratings — a technical analysis tool that combines the ratings of several technical indicators — rate 11 of the 100 index companies as a 'Strong Buy', 45 as 'Buy', 25 as 'Sell', and only 5 as 'Strong Sell'.

Symbol Close RSI Recommendation
ATRL 362.57 49.34 Neutral
BAFL 67.44 54.68 Buy
BAHL 114.16 62.03 Buy
CHCC 163.62 54.60 Strong Buy
COLG 1184.82 28.86 Sell
DGKC 88.36 47.86 Neutral
EFERT 169.03 61.68 Buy
ENGRO 326.03 40.78 Sell
FFC 170.42 70.35 Buy
HBL 146.63 78.20 Strong Buy
HUBC 160.52 58.16 Buy
LUCK 903.24 48.60 Sell
MARI 2668.5 46.98 Sell
MCB 220.46 47.41 Buy
MEBL 237.19 50.33 Sell
MLCF 38.57 52.40 Buy
MTL 611.1 38.23 Neutral
NRL 263.24 41.71 Strong Sell
OGDC 130.83 45.83 Sell
POL 518.39 65.24 Buy
PPL 118.69 46.75 Sell
PRL 23.88 43.37 Strong Sell
PSO 167.99 44.99 Sell
SEARL 59.23 51.89 Buy
SHEL 146.23 57.48 Buy
SNGP 66.6 52.12 Buy
SYS 440.89 62.32 Strong Buy
TPLP 8.76 29.64 Sell
TRG 56.13 24.34 Strong Sell
UBL 256.11 62.07 Buy

Note: Table includes KSE-30 companies only

To note, the overall rating of the indicator includes several moving averages with different lengths, the Ichimoku Cloud, and several oscillators.


Disclaimer: The views and analysis in this article are the opinions of the author and are for informational purposes only. It is not intended to be financial or investment advice and should not be the basis for making financial decisions.

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Name Price/Vol %Chg/NChg
KSE100 145,647.14
326.59M
0.39%
558.64
ALLSHR 89,906.36
711.08M
0.30%
273.19
KSE30 44,758.03
152.88M
0.10%
45.48
KMI30 207,962.44
186.56M
0.62%
1280.28
KMIALLSHR 60,208.68
392.04M
0.37%
220.41
BKTi 40,094.25
34.83M
0.19%
77.29
OGTi 30,683.06
51.12M
2.22%
665.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,910.00 116,920.00
114,685.00
1080.00
0.93%
BRENT CRUDE 67.43 67.58
66.70
0.54
0.81%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.88 65.08
64.12
0.53
0.82%
SUGAR #11 WORLD 16.20 16.20
15.97
0.19
1.19%

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